Revolut plans to launch Revolut Pay for crypto customers next year to enhance protection against cryptocurrency fraud

ChainCatcher news, according to Coindesk, financial technology giant Revolut plans to launch Revolut Pay for cryptocurrency customers starting in 2025 to enhance protection against fraud attacks.

Revolut stated in a release that a 12-month pilot conducted with companies using the enhanced due diligence of Revolut Pay, direct API integration, and end-to-end payment process control showed that fraud attempts against cryptocurrency customers were reduced by approximately 50%.

These enhancements include Know Your Customer (KYC) name matching, fraud warning screens, proof of cryptocurrency delivery, and the ability for cryptocurrency merchants to receive transaction risk scores.